Y'all might find this funny

So I was at work trying to drill some holes, nothing special, routine fabrication, and I clean snapped a 10mm drill bit. Noticed that the bit had a nasty precession. Upon further inspection I found this genius repair performed by person(s) unknown.

Obviously the drill chuck had fallen off the Arbor due to an excessive amount of wear inside it, and they've gone and used painters tape on the precisely machined tapered Arbor to stick the bugger back on.

Am I right in losing my marbles or is this in fact a a precise and accurate repair performed by a skilled tradesman?